Modern payment systems must be able to screen every transaction before it’s completed. At the same time, they must comply with anti-money laundering requirements, verify individuals and businesses, screen against sanctions lists, detect potential fraud, and record the rationale behind every decision. The scope of these responsibilities continues to grow. According to the European Banking Authority (EBA) and the European Central Bank (ECB), payment fraud across the European Economic Area caused €4.2 billion in losses in 2024. Fraud involving bank transfers alone cost the financial...
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